Progressive Care Reports Strong November
Sales to Begin End of Year Rally
Miami, FL -- December 15, 2017 -- InvestorsHub NewsWire --
Progressive Care Inc. (OTCQB:RXMD),
through its subsidiaries Smart Medical Alliance, Inc. and PharmCo,
LLC, is a South Florida health services organization and provider
of prescription pharmaceuticals, compounded medications, the sale
of anti-retroviral medications, medication therapy management
(MTM), the supply of prescription medications to long term care
facilities, administration and practice management, utilization
management, quality assurance, EHR Implementation, billing and
coding, and health practice risk management, announces over $1.7
million in net revenues on nearly 21,000 prescriptions filled in
November 2017.
PharmCo, LLC filled just under 21,000 prescriptions during the
month of November, generating approximately $1.7 million in net
revenues. Prescriptions filled increased by nearly 13% over the
same month last year. The company also filled over $400,000 worth
of prescriptions for 340B entities, generating fees to the pharmacy
of just over $17,000. PharmCo has achieved much of its growth
through targeted marketing to new doctor's offices and clinics.
The pharmacy is expecting to achieve increased growth through
the remainder of the year, with momentum propelling the company
into the New Year. This is based on feedback from current and
prospective health care providers looking to improve their
performance rating with insurance carriers. Medicare and commercial
insurance companies are elevating the performance requirements that
all providers must adhere to in order to achieve bonuses. Adherence
to medication therapies are a significant portion of these
performance measures, which necessitates relationships with
pharmacies who have high performance ratings in adherence and
medication therapy management (MTM).
"We are closing out the year strong" stated S. Parikh Mars, CEO.
"Over the past 2 weeks, we have been receiving numerous calls from
primary care physicians who are recognizing the difference that
PharmCo makes for their practice. Those patients not using PharmCo
as its pharmacy are struggling with adherence and are having a
negative impact on the performance rating of the doctor. We believe
that providers who currently work with us and those who are getting
to know us are going to highly recommend PharmCo to their patients
in 2018 in order to realize the benefits that using our company has
on patient health outcomes and their bottom lines. It is clear that
PharmCo's level of service and business model lowers health care
costs for all participants in the health care system."
The Progressive Care and PharmCo team would like to send the
warmest wishes during the holiday season to the shareholders,
patients, and providers, who have stood by the company for so many
years.
Happy Holidays and Best Wishes for a healthy and prosperous New
Year to all!
About Progressive Care
Progressive Care Inc. (OTCQB:RXMD),
through its subsidiaries Smart Medical Alliance, Inc. and PharmCo,
LLC, is a South Florida health services organization and provider
of prescription pharmaceuticals, compounded medications, the sale
of anti-retroviral medications, medication therapy management
(MTM), the supply of prescription medications to long term care
facilities, administration and practice management, utilization
management, quality assurance, EHR Implementation, billing and
coding, and health practice risk management.
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Armen Karapetyan
Senior Advisor Business Development